The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-05
DEyouRED.
ne Penasyivssia Oh Fields 81
Last Idle.
Yhe Mers1-ss stssssrd ~il Jon
psny bss u vast.t'd the hieh
FIslds-Pitifu1.

NV Yosx, September ga spe'
dial to the World from Pittsburg says;
In a few days the Pennsylvania oil
Acids win bs virtually idle. The produc-
ss are baukrup. and will shut Of pro
duc,ion as lsbt and desperate chance
OF relief. The regions that have pro-
duced million upon millions Of dol airs
worth Of petroleum are todsy little
better OF ltan II the golden fluid had
never been discovered. Sheriff. sales
are the most conspicuous signs every
where. Splendid reeidences that were
built BY the lucky oil seeker In the
p,lny days before '85. are the only
Indication, n At prosperity once abid,d
with the oil producer Even theee
are sadly out oil repair, aud the once
iortunsts owner who found the roomy
mansion too email for his swollen
wealth nov difsovsrs that he ba q
white elephspt ON his hands, apd IN
content 10 oscapy two OF three rooms
Of the dwelling, letting out tho re.
Us,uaer 70 dodgers. Men who form.
srly had an income a SIS, 500 and
$500 day from their vs,ls, now get q
isborsI's wsg's.
Many OF the lager producers are
running tn,ir wells at loss. Hun.
dred, oi drillsrr, tool dreesers, pump
ers and rig carpenters are out OF WORK
because almost no Dew wells are coins
down, and III ose nov la operation ore
worked In the met tconomits' man
ner poesible. Wages bsve not been u
low since oil was discovered. II THU
dspressisD continues Tor another sil
months those still engaged Ia the on
business will Qiit II, as many
hundrsds hAvs already done.
Speculation, too, IL paralyS d. Spec
ulaiou have learned by rad expsrienc,
tha', owirg 10 ,hs excessive ttorsg'
shargss, they must charge 70 per cent
on their trades TO come out even
while the operator and dtllers Their
are sDsssing IN other pnrsulte. TIL,
maspih cont Western PennsylvAni
exchange, or citd In the hslcyon day
Of "dol ar" o |. AIe nov little at,er ded
and In tho vast emptiness the coca
sional bidder Ia startled ut the SCUM,
OF his own voice.
The Iop,umr for years has beef
paying n the standard Oil Compan
Tor r,hued oil onethird more than
would cost " the pro1uc ion an
manufacture Of oil followed naiur,
laws. TIE consumer has really MI
riehed ths great oil monopoly NOR
than the p o iuosr, nut because III
hand 81 1tori,n 10 laid lightly upo
him iBdiyidu lily he does not feel II
A few GENE q week from each cor
sumsr msk,s millions Of d'llars 4
the Standard. With no excuse what
ever the staodiTd In 1875 pat up tn
price Of r6oed oil from 10 10 80 cent
q gallon; and In 1889 IL iaiied th,
price from 8 10 ~ cents Ia both In
stances the purchasing price OF Thu
sruds oil remained ths same. Th'
Standard buys at It's osn price AM
sells st lie own price. Other,commod
itiee arc olnotrned occaslona ", bu
oil 10 In q chronic state Of "corner."
Should tbe.standafd 40 desire, Their
Ia nothing 70 prevent iis putting tn,
price OF oil up 10 30 cents per aaloI
Tor al le.st az months, No II wOul'
be that TINS befors competition coul,
be dsve oped to cut down the price
10 rules tho home and fereign trad
alike. The Rassisn compa nies, ablu
which o. much hiss lately been writ
ton, will no, be serious com prtltors o
the American monopoly ir eeye q
Year,, even supp,eirg that the qls Il,
Of the oil IL "a lAl IN che pennsy lyani
produe,, 90 the O ~ a proiuc,ion an,
transportation In RI STA by pres, n
methods 10 tor great 10 make tina o
bsslnsss In that country profitable.